Latest news with #CanadianOil
Bloomberg
6 days ago
- Business
- Bloomberg
Alberta Premier Optimistic About Potential US-Canada Trade Deal
Danielle Smith, Premiere of Alberta, Canada, talks about the impact of tariffs enacted by the US and the push for new pipelines to carry Canadian oil from Alberta to the country's west coast. (Source: Bloomberg)
Yahoo
24-05-2025
- Business
- Yahoo
Hemisphere Energy First Quarter 2025 Earnings: Beats Expectations
Revenue: CA$21.3m (up 25% from 1Q 2024). Net income: CA$8.94m (up 32% from 1Q 2024). Profit margin: 42% (up from 40% in 1Q 2024). The increase in margin was driven by higher revenue. EPS: CA$0.09 (up from CA$0.069 in 1Q 2024). We've discovered 1 warning sign about Hemisphere Energy. View them for free. All figures shown in the chart above are for the trailing 12 month (TTM) period Revenue exceeded analyst estimates by 7.5%. Earnings per share (EPS) also surpassed analyst estimates by 5.9%. Looking ahead, revenue is forecast to stay flat during the next 3 years compared to a 2.1% growth forecast for the Oil and Gas industry in Canada. Performance of the Canadian Oil and Gas industry. The company's share price is broadly unchanged from a week ago. What about risks? Every company has them, and we've spotted 1 warning sign for Hemisphere Energy you should know about. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
New Indian Express
21-05-2025
- Business
- New Indian Express
Gulf trades trigger Texas tremors
'I owe my success to having listened respectfully to the very best advice, and then going away and doing the exact opposite.' — G K Chesterton As US President Donald Trump concluded his Gulf tour, former President Jimmy Carter's speech on July 15, 1979 couldn't be more relevant: 'I am tonight setting a clear goal for the energy policy of the US. Beginning this moment, this nation will never use more foreign oil than we did in 1977—never.' The foundation of a long-lasting friendship between the US and the Saudi kingdom was laid on Valentine's Day in 1945, when President Franklin D Roosevelt and King Abdul Aziz Ibn Saud met aboard USS Quincy on the Suez Canal. The bonhomie translated into an arrangement that provided military security to the monarchy and guaranteed oil supplies to the republic. Within three years, a consortium led by Standard Oil Company of California discovered the Ghawar oil field (later to be a part of Saudi Aramco), the world's largest, in the Saudi desert. It heralded the kingdom's undisputed leadership as the largest player in global oil exports, ushering interdependency between the two countries. In 1977, OPEC provided 85 percent of its crude oil to the US, with Saudi Arabia the single largest source. Against 8.5 million barrels per day of supplies almost five decades back, the figure prognostically remained at 8.44 mbpd in 2024. The Canadian Oil patch currently accounts for more than 60 percent of the US import basket. Keen to reclaim its share after having ceded it to 'opportunists' within the cartel who erred on quota directives, Saudi Arabia initiated to open the spigots May onwards. Kazakhstan, Iraq and the UAE constantly breached their allocations. Kazakhstan's Tengiz oilfield, the world's sixth largest, is ironically owned and operated as a joint venture between the Kazakh government and American majors Chevron and ExxonMobil, with the latter two together holding 75 percent. Export of nearly 80 percent of Kazakh crude from this oilfield is facilitated by the Russia-controlled Caspian Pipeline Consortium. Such are the complexities of the oil industry, where collaborations flourish sans frontières.
CBC
16-05-2025
- Business
- CBC
China emerging as top customer for Canadian oil shipped via Trans Mountain Pipeline
China has emerged as the top customer for Canadian oil shipped on the expanded Trans Mountain Pipeline, ship tracking data shows, as a U.S. trade war has shifted crude flows in the year since the pipeline started operating. China's new interest in Canadian oil comes as U.S. President Donald Trump's trade war has strained relations between longtime allies Washington and Ottawa. It also reflects the impact of U.S. sanctions on crude from countries like Russia and Venezuela. Canada is the world's fourth-largest oil producer, but its main oil-producing province of Alberta is landlocked with limited access to tidewater ports. That means the bulk of Canadian oil — about four million barrels per day or 90 per cent — is exported to the U.S. via pipelines that run north-south. The $34-billion Trans Mountain Pipeline carries oil to the Pacific Coast where it can be loaded onto tankers for export. The expansion, which began operations on May 1, 2024, tripled the pipeline's capacity to 890,000 barrels per day and opened opportunities for Canadian oil along the U.S. West Coast and in Asian markets. Canada seeks to diversify exports While oil is currently exempt from U.S. tariffs, Canada has sought to diversify its exports due to brief U.S. duties on its crude and Trump's threats to annex the country. Canada shipped about 207,000 barrels per day (bpd) on average to China since the Trans Mountain expansion ramped up to full operations in June last year, ship tracking data on Kpler showed. That was a huge increase from an average of about 7,000 bpd in the decade to 2023. The U.S. took about 173,000 bpd from the pipeline in the same period. China's top spot as the TMX buyer defies some early expectations that the U.S. would be the biggest buyer of crude shipped via the pipeline, which is owned by the Canadian government. Many expected its barrels to land on the West Coast versus Asia, which has access to cheaper Russian oil. However, Trump's protectionist policies have in recent months made Canada more attractive to Chinese buyers, said Philippe Rheault, director of the China Institute at the University of Alberta. China has also been reluctant to be over-reliant on Russian energy supplies, Rheault said. "A lot of China's refineries are also mindful of U.S. sanctions, and so have been trying to diversify away from oil from Venezuela and other places," he said. Shifting flows In the year since the pipeline's expansion, Canadian exports of crude to countries other than the U.S. rose nearly 60 per cent to an annual record of about 183,000 bpd in 2024, according to Statistics Canada. Other nations taking Canadian crude include South Korea, Japan, India, Brunei and Taiwan, ship tracking data showed. In recent months, several Canadian politicians have called for new pipelines to coastal export terminals to reduce dependency on the U.S. But regulatory, financial and political hurdles continue to stifle that development. TMX was about 77 per cent full on average in 2024, according to documents it filed with the Canada Energy Regulator, below the 83 per cent the company forecast, in part due to the high tolls the operator has been charging to make up for cost overruns during construction. The pipeline is expected to be 84 per cent full this year, and ramp up to 92 per cent in 2027. Its operator, Trans Mountain Corp, has said it is looking at expansion projects that could add between 200,000 and 300,000 bpd of capacity to the system. Given China's increased desire to find new, stable supplies of crude, the bulk of any additional capacity on TMX is likely to go to Asia rather than the U.S. West Coast, said Skip York, chief energy strategist with Turner, Mason & Company.
Yahoo
11-05-2025
- Business
- Yahoo
NuVista Energy First Quarter 2025 Earnings: Beats Expectations
Revenue: CA$340.0m (up 23% from 1Q 2024). Net income: CA$112.2m (up 213% from 1Q 2024). Profit margin: 33% (up from 13% in 1Q 2024). The increase in margin was primarily driven by higher revenue. EPS: CA$0.55 (up from CA$0.17 in 1Q 2024). We check all companies for important risks. See what we found for NuVista Energy in our free report. All figures shown in the chart above are for the trailing 12 month (TTM) period Revenue exceeded analyst estimates by 10%. Earnings per share (EPS) also surpassed analyst estimates by 10%. Looking ahead, revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 1.5% growth forecast for the Oil and Gas industry in Canada. Performance of the Canadian Oil and Gas industry. The company's shares are up 4.3% from a week ago. Following the latest earnings results, NuVista Energy may be undervalued based on 6 different valuation benchmarks we assess. Click here to find out what a fair price for the stock might be and where analysts see the share price heading over the next year. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
